Auction Finance is specifically for those looking to purchase properties at UK auctions. Mortgage Knight delivers this specialised service to cater to the growing interest from both individuals and businesses. Our approach is straightforward, ensuring you can manage your auction investments effectively. We offer flexible terms and a variety of financing options to accommodate all types of auction buyers. Our team provides essential guidance from your first bid through to post-purchase refinancing, helping you secure the best properties with ease.
What is Auction Finance?
Auction finance provides quick, flexible funding for purchasing properties at auction, ideal for meeting tight deadlines. It allows buyers to access funds swiftly, often within 28 days, ensuring they can confidently secure investment opportunities. This type of financing suits residential, commercial, and mixed-use properties.
Key Features:
- Speed of Arrangement: Auction finance can be arranged within days, with offers typically agreed on the same day, ensuring fast access.
- Flexible Terms: Financing terms range from 1 to 12 months, allowing buyers to choose terms that perfectly suit their needs.
- Loan Amounts: Loans cover a significant property value portion, with AVMs available for 70% Gross LTV to streamline financing for eligible properties.
- Interest Rates: Rates range from 0.43% to 0.85% per month, with lower LTV applications securing the most favourable terms.
- Security: The loan is secured against the auction property, providing robust security and assurance for both parties involved.
The UK Auction Market– Balancing Opportunities and Challenges
The UK property auction market presents a prime opportunity for investors and developers to secure properties at potentially lower prices. With a range of options from residential homes to commercial buildings, auctions offer a swifter alternative to the traditional property purchase process.
Benefits:
- Potential Bargains: Properties may be acquired for less than market value, presenting a cost-effective investment opportunity.
- Variety of Properties: Auctions provide a wide selection, including properties not often found on the open market.
- Speedy Transactions: The auction process is considerably quicker than traditional methods, enabling faster property acquisition.
Challenges:
- Need for Prompt Payment: A 10% deposit is typically required on auction day, with the balance due within 28 days.
- Risk of Overbidding: Fierce bidding can result in paying more than the property’s true market value, which could strain finances.
- Limited Viewing Time: Often, buyers have limited time to inspect properties, which may lead to unforeseen issues after purchase.
Experience Mortgage Knight’s Flexible Financing
Obtaining the right finance for your auction purchase is straightforward and efficient with our expert services. Whether you’re bidding on apartments, houses, or commercial spaces, our tailored solutions ensure you have the funds you need when you need them.
Apartments 🏢
Houses 🏠
Offices 🏢
Shops 🏬
Land 🌳
With Mortgage Knight, you can confidently bid on any property type, knowing our financial solutions will help you meet auction deadlines and secure your investment without delays.
Secure Your Final Bid for Property Success with Mortgage Knight
At Mortgage Knight, ensure your auction success with custom financial solutions designed for any property bid. Whether you’re aiming for residential homes or commercial premises, Mortgage Knight is your reliable partner in auction finance.
Expert Auction Finance Guidance:
- Our dedicated team offers thorough support from start to finish, making sure you are fully informed throughout the process.
Swift and Flexible Financing:
- We process your finance applications rapidly, often securing approvals the same day, and provide adaptable terms to suit a variety of financial needs.
Ongoing Support Post-Auction:
- After your purchase, we help you transition your auction finance to a standard mortgage and continue offering advice to optimize your investment.
Auction finance is a vital tool for those looking to invest in the UK property market through auctions. With its quick access to funds and flexibility, it suits the dynamic nature of property auctions. Mortgage Knight stands out as a reliable partner, offering expert advice, quick service, and personalized solutions to help you navigate the auction landscape successfully. Whether you’re a seasoned investor or new to property auctions, partnering with Mortgage Knight can enhance your buying experience and increase your chances of success in this competitive arena.
